Bitcoins <\/p>\n
Morgan Stanley\u2019s long\u2011awaited spot Bitcoin exchange\u2011traded fund, the Morgan Stanley Bitcoin Trust (MSBT), has taken a major procedural step toward trading after the New York Stock Exchange confirmed an official listing notice for the product.\u00a0<\/p>\n
Bloomberg Senior ETF Analyst Eric Balchunas says<\/a> the listing typically signals a launch is \u201cimminent.\u201d<\/p>\n If approved by regulators, MSBT would mark the first spot Bitcoin ETF issued directly by a major U.S. bank rather than an asset manager. Existing U.S. spot Bitcoin ETFs have been launched by firms such as BlackRock<\/a> and Fidelity.<\/p>\n Morgan Stanley\u2019s wealth management division oversees one of the largest networks of financial advisors in the industry, with roughly 16,000 advisors and trillions in client assets under management.\u00a0<\/p>\n That distribution reach could make MSBT a significant channel for Bitcoin exposure in traditional portfolios.<\/p>\n The ETF\u2019s fee structure has not yet been disclosed. The flagship U.S. spot Bitcoin ETF from BlackRock, iShares Bitcoin Trust (IBIT), currently charges around a 0.25% management fee, with other issuers ranging from 0.20% to 0.30% annually.<\/p>\n Last week, Morgan Stanley confirmed<\/a> that its proposed spot bitcoin exchange-traded fund will trade under the ticker MSBT on NYSE Arca, according to an updated filing with the U.S. Securities and Exchange Commission.<\/p>\n The filing details the Morgan Stanley Bitcoin Trust, a passive investment vehicle designed to track the spot price of bitcoin through direct holdings. Shares will reflect the value of bitcoin held in custody, allowing investors to gain exposure through brokerage accounts without owning the cryptocurrency directly.<\/p>\n